Overview: In January 2021 Minnesota exported $1.7B and imported $2.51B, resulting in a negative trade balance of $806M. Between January 2020 and January 2021 the exports of Minnesota have decreased by $-135M (-7.36%) from $1.84B to $1.7B, while imports increased by $202M (8.76%) from $2.31B to $2.51B.
Trade: In January 2021, the top exports of Minnesota were Refined Petroleum ($128M), Medical Instruments ($114M), Integrated Circuits ($74.4M), Machines and apparatus of a kind... ($51.4M), and Centrifuges ($51.4M). In January 2021 the top imports of Minnesota were Crude Petroleum ($352M), Orthopedic Appliances ($87.1M), Medical Instruments ($66.7M), Commodities not elsewhere specified ($51.1M), and Petroleum Gas ($46.6M).
Destinations: In January 2021, Minnesota exported mostly to Canada ($430M), Mexico ($220M), China ($154M), Japan ($92.2M), and Germany ($62.1M), and imported mostly from Canada ($759M), China ($624M), Mexico ($226M), Vietnam ($172M), and Taiwan ($91.1M).
Growth: In January 2021, the decrease in Minnesota's year-by-year exports was explained primarily by an decrease in exports to Canada ($-61.3M or -12.5%), South Korea ($-36.6M or -40%), and Germany ($-34.8M or -35.9%), and product exports decrease in Optical Fibers ($-52.3M or -85.9%), Refined Petroleum ($-47.5M or -27%), and Self-adhesive Plastics ($-24.6M or -56%). In January 2021, the increase in Minnesota's year-by-year imports was explained primarily by an increase in imports from Canada ($82.7M or 12.2%), China ($77.8M or 14.2%), and Vietnam ($64.8M or 60.4%), and product imports increase in Video Displays ($31M or 247%), Sawn Wood ($26.3M or 207%), and Cars ($22.9M or 208%).